Samsung Electronics is expected to sign a memorandum of understanding (MOU) with the National Development and Reform Commission (NDRC), a macroeconomic management agency under the Chinese State Council, which has broad administrative and planning control over the Chinese economy this week.
“I will take part in a South Korea-China economic ministers meeting by visiting China for two days from February 1 to 2,” said Kim Dong-yeon, deputy prime minister and minister of strategy and finance said during a special lecture at a CEO meeting held at the Korea Chamber of Commerce and Industry in the morning of September 29. “I am planning to discuss an MOU between Samsung and the NDRC.”
Deputy prime minister Kim, however, did not disclose details of the MOU.
"We aim at revising the MOU that Samsung signed with the NDRC," a related government official said. "We understand that the meeting will be not about details of the MOU but about comprehensive cooperation."
However, some industry experts say that as the NDRC looked into prices of Samsung semiconductors after Chinese smartphone companies recently instituted a lawsuit, this issue may be brought up during a discussion about the signing of the MOU.
In addition, a forecast was made that in the meeting, they may deal with ways to cooperate on smart robots, smart cars and etc. in a three-year plan for enhancing the core competitiveness of the manufacturing industries announced by the NDRC. However, a government official denied that, saying, “The MOU is not about details in specific areas."